Honeywell Automation, Kaynes Technology, Ipca Labs, and Dr Reddy's defied the weak market sentiment after gaining between 3 percent - 5 percent on December 19.
Sensex was down 1.17 percent while the Nifty 50 was down 1 percent at 1.28 pm.
The positivity around Ipca Labs and Dr Reddy's was more to do with the overall positivity around pharma after Trump came to power. The reason - India has the opportunity to increase its exports in areas like pharmaceuticals due to higher tariffs by the US on products coming in from China and Mexico, which benefits the Indian pharmaceuticals sector.
Similarly, the Indian pharma market is expected to post strong growth in the coming months, especially amidst the ongoing winter season.
To be sure, broad-based gains across most pharma names lifted the Nifty Pharma index over 1 percent higher, making it the sole sectoral gainer in today's trade.
Honeywell Automation shares were up 2.67 percent at Rs 40,877.4 at 1.28 pm on the National Stock Exchange. The company was awarded a contract to provide building automation solutions to Exide. A total of 23,000 Honeywell Automation shares were traded on the exchanges, which was much higher than the average monthly traded volume of 6,000 shares.
While, Kaynes Technology was up 7.51 percent at Rs 7,634.95 at 1.28 pm on the National Stock Exchange. A total of 15 lakh Kaynes Technology shares were traded on the exchanges, which was much higher than the average monthly traded volume of 5 lakh shares.
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